Barclays Finance Director to step down
4th Feb 2013 07:03
Barclays has announced that its long-running Finance Director, Chris Lucas, has stepped down ahead of the group's conclusion of its strategic review in the coming weeks. Mark Harding, the Group General Counsel who has been with the bank for 10 years, has also decided to call it quits, the company s
Read moreMonday newspaper round-up: Barclays, Centrica, George Osborne...
4th Feb 2013 06:51
The last vestiges of Barclays' old guard are being swept away in a clearout that has claimed the finance director and the bank's legal chief. Chris Lucas, the finance director since 2007, and Mark Harding, the group general counsel who has been with Barclays for ten years, are stepping down, the len
Read moreLondon close: Stocks surge as economic data impresses
1st Feb 2013 16:46
The impressive performance by global stock markets last month continued into the first trading day of February, as a barrage of upbeat economic data lifted sentiment. The FTSE 100 rose a total of 6.4% in January alone, the best January performance since 1989. Eurozone manufacturing beats forecast
Read moreFTSE 100 movers: Miners rise on positive Chinese data
1st Feb 2013 15:04
Miners were performing well on Friday as continued growth in China's manufacturing lifted the demand outlook for commodities. Fresnillo and Vedanta Resources were among the best performers. Telecoms giant BT was a high riser today after its third-quarter results, as cost control helped it to beat
Read moreBarclays CEO waives 2012 bonus amid scandals
1st Feb 2013 13:04
Barclays Chief Executive Officer (CEO), Antony Jenkins, announced Friday he would waive his bonus for 2012 as the bank tries to mend its image following a series of scandals. Jenkins was appointed the new boss in August following the departure of Bob Diamond who stepped down amid the bank's involv
Read moreFriday newspaper round-up: Barclays, Chinese manufacturing, Jessops...
1st Feb 2013 06:55
UK authorities are probing an allegation that Barclays loaned Qatar money to invest in the bank as part of its cash call at the height of the financial crisis in 2008, which enabled the bank to avoid a UK government bailout. While the terms of Barclays' emergency fundraising have been under the scru
Read moreThursday newspaper round-up: Barclays, Shell, Great Western...
31st Jan 2013 06:55
The man responsible for setting boardroom pay at Barclays was hammered by MPs and peers yesterday and warned not to pay a one million-pound bonus to the new chief executive. Sir John Sunderland, one of Britain's most eminent industrialists and a for- mer CBI president, was hit by a barrage of hostil
Read moreWednesday newspaper round-up: BP, Bumi, Barclays...
30th Jan 2013 07:09
Iran believes BP-operated Azeri oil platforms have polluted the Caspian Sea and may sue the UK oil group if it continues, Iran's deputy environment minister has been reported as saying by Iranian media. Iranian officials have complained that Azeri oil has washed up on Iranian beaches over the last y
Read moreSector movers: RBS and Lloyds hit by downgrade
29th Jan 2013 16:45
Banks were taking a hit on Tuesday after Espirito Santo downgraded Royal Bank of Scotland and Lloyds, saying that the operating environment remains difficult in the face of a weak economic outlook. RBS and Lloyds are now two of the most expensive stocks under Espirito's coverage and the broker fore
Read moreFTSE 100 movers: Anglo American a strong riser
29th Jan 2013 15:37
Diversified mining group Anglo American gained despite saying it will recognise a 4.0bn dollar impairment charge in its 2012 results after completing a detailed cost and schedule review of its Minas-Rio iron ore project in Brazil. The gain appeared to be part of a wider trend, with sector peers Ev
Read moreBroker snap: Espirito Santo downgrades RBS and Lloyds to 'sell'
29th Jan 2013 15:33
While shares in Royal Bank of Scotland were being hammered on Tuesday by concerns about alleged LIBOR manipulation in the US, the stock was being weighed down further by a downgrade by Espirito Santo. Lloyds was also taken down a peg by the broker in its review of the UK banking sector. Espirito
Read moreBroker tips: Barclays, British Land, Carpetright
29th Jan 2013 11:02
Ahead of Barclays's full-year results due on February 12th, UBS has raised its target price for the stock from 315p to 325p and kept its 'neutral' rating. The broker expects Barclays to report a full-year profit before tax (PBT) of £6,909m for 2012, slightly above the consensus estimate of £6,856m.
Read moreBroker snap: UBS ups Barclays target ahead of full-year results
29th Jan 2013 10:14
Ahead of Barclays's full-year results due on February 12th, UBS has raised its target price for the stock from 315p to 325p and kept its 'neutral' rating. The broker expects Barclays to report a full-year profit before tax (PBT) of £6,909m for 2012, slightly above the consensus estimate of £6,856m.
Read moreTuesday broker round-up UPDATE
29th Jan 2013 07:26
Anglo American: JP Morgan takes price target from 1630p to 1680p, while its underweight rating remains unchanged. ARM Holdings: Jefferies raises target price from 693p to 805p keeping a hold recommendation. Astra Zaneca: Barclays ups target price from 3100p to 3200p and retains an equal-weight rat
Read moreLondon close: FTSE 100 edges closer to 6,300 after recent strong run
28th Jan 2013 16:58
Improving newsflow in China and some better-than-expected economic data from the US helped the FTSE 100 come close to the 6,300 barrier on Monday, a level not seen since mid-2008. "What seems to be an unrelenting grind higher has continued today, with fund manager's chatter of the big rotation bein
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